Matrix Asset Advisors Inc. NY Invests $4.29 Million in Abbott Laboratories $ABT

Key Points

• Matrix Asset Advisors purchased a new $4.29 million stake in Abbott Laboratories during the second quarter, acquiring 47,262 shares. Institutional investors and hedge funds collectively own 75.18% of Abbott’s stock.
• Abbott exceeded quarterly expectations, reporting $1.31 in adjusted EPS on $12.59 billion in revenue, with revenue rising 13% year over year. The company issued third-quarter EPS guidance of $1.38–$1.46 and full-year guidance of $5.45–$5.60.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $118.67. Abbott also declared a quarterly dividend of $0.63 per share, representing a 2.3% yield.

Matrix Asset Advisors Inc. NY purchased a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,262 shares of the healthcare product maker's stock, valued at approximately $4,289,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. Purpose Unlimited Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $26,000. Finally, Abound Financial LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $26,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT opened at $111.27 on Friday. The firm has a market cap of $192.53 billion, a P/E ratio of 36.01, a PEG ratio of 2.15 and a beta of 0.59. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The firm's 50 day moving average price is $97.67 and its two-hundred day moving average price is $99.83.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. The company had revenue of $12.59 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. On average, analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio (DPR) is currently 81.55%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird started coverage on shares of Abbott Laboratories in a research note on Wednesday, July 1st. They issued an "outperform" rating and a $121.00 price objective on the stock. Evercore cut their price target on Abbott Laboratories from $134.00 to $120.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. TD Cowen restated a "buy" rating and issued a $115.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. Sanford C. Bernstein decreased their price objective on Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, Benchmark dropped their price objective on Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $118.67.

Key Abbott Laboratories News

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Alphabet AI partnership expands Abbott’s growth opportunity: Abbott and Alphabet announced a multiyear collaboration integrating data from Abbott’s over-the-counter Lingo continuous glucose monitor into the Google Health app. Google’s AI Health Coach is expected to use the data to provide personalized recommendations, potentially increasing Lingo adoption and strengthening Abbott’s position in consumer digital health. Can Abbott Laboratories’ Lingo Partnership With Alphabet Unlock a New Era of AI-Powered Health?
• Positive Sentiment: Wolfe Research upgraded ABT to Outperform: The firm raised its rating from “Peer Perform” and set a $130 price target, implying substantial upside from recent trading levels. The upgrade indicates improving analyst confidence in Abbott’s earnings durability and growth prospects.
• Positive Sentiment: Established Pharmaceuticals remains a growth driver: Abbott’s Established Pharmaceutical Products division is benefiting from emerging-market demand, a broad branded-generics portfolio and biosimilar opportunities. This provides diversification beyond the company’s medical-device businesses. What’s Backing Abbott’s Established Pharmaceuticals Division Growth
• Neutral Sentiment: Recent trading strength reflects broad investor support: Abbott outperformed some medical-product peers during a recent strong market session, while bullish commentary has highlighted the company’s diversified portfolio and long-term growth potential. Abbott Laboratories Stock Outperforms Competitors on Strong Trading Day
• Negative Sentiment: Valuation remains a potential constraint: With a forward-looking earnings multiple above 36 and the stock already well above its recent moving averages, further gains may require continued earnings execution and evidence that newer initiatives such as Lingo can materially contribute to revenue.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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